Refining

Serbia's NIS gets U.S. approval to negotiate sale of Russian stake

The U.S. Treasury Department's Office of Foreign Assets Control imposed sanctions on NIS in October, as part of broader measures against Russia's energy sector, after granting a series of waivers since January.

Egypt, Qatar's Al Mana Holding sign $200-MM SAF deal

The project will be developed in three phases and will span 100,000 m2 in the Integrated Sokhna Zone on Egypt's Red Sea coast.

China's teapots boost Russian ESPO buying amid record discounts

Discounts for Russian ESPO Blend crude loading in January have widened to a record $7–$8 per barrel versus ICE Brent upon delivery in Chinese ports, as Western sanctions pressure weighs on the grade.

Asia oil floating storage seen declining on lower exports, China buying

The volume of oil stored on board ships in Asian waters, which has tripled since September to a 3-yr high, is poised to decline as producers of sanctioned oil slow exports and Chinese refiners ramp up buying.

Gazprom in talks with Hungary's MOL over NIS stake sale

The United States announced sweeping sanctions targeting Russia's oil sector in January over Moscow's war in Ukraine, but, for NIS, their application was postponed several times before finally coming into effect on October 8.

Ethanol producer Inpasa to invest $630 MM in Brazil biorefinery projects

The new facility in Rondonopolis will receive 2.77 B reais in investments, with operations starting in early 2027.

Babcock & Wilcox awarded $40-MM contract for advanced wet gas scrubbing technology at Canadian petroleum refinery

bp picks first outsider CEO Meg O'Neill after abrupt Auchincloss exit

O'Neill, who will take over in April following the abrupt exit of Murray Auchincloss, becomes bp's first external CEO in its more than century-long history and the first woman to lead any of the world's top five oil majors.

U.S. judge blocks Michigan from shutting down Enbridge's Line 5 oil pipeline

The decision comes five years after Michigan Governor Gretchen Whitmer revoked an easement allowing Canadian company Enbridge to operate a 6.4-km (4-mile) stretch of aging pipeline underneath the Straits of Mackinac, which connect Lake Michigan and Lake Huron, citing risks to the environment in the event of a spill.

India's Chennai Petroleum Corp to raise capacity at key Manali refinery

The company is a subsidiary of the country's top refiner, the state-run Indian Oil Corp., and sells almost all of its transportation fuels - diesel and gasoline - to its parent, which has a robust local retail network.